The ‘Help to Buy’ scheme (HTB) is a government initiative designed to help first time buyers (FTB’s) raise the deposit needed to purchase a new house or apartment. Under the initiative, you can receive a refund or rebate of Income Tax and Deposit Interest Retention Tax (DIRT)* that you paid over the previous four tax years. 

• You must be a first time buyer 
• You are purchasing the home to live in
• You are borrowing at least 70% of the value of the property 

• New build houses and apartments priced at or below €500,000 
• Self built homes

You can claim €30,000 or 10% of the purchase price of a new home up to €500,000.

For self builds, you can claim 10% of the completion value.

Yes, you can cancel your original HTB application and reapply to avail of the increased relief. Please note if you have already signed contracts than this is not possible. 

New Build Property €365,000

Buyers 10% HTB €30,000 (cap)

10% Deposit less HTB = €6,500

90% Mortgage = €328,500

If you need more information, or to apply for the incentive, visit Revenue.ie here.